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Sensex plunges 1,059 pts, metal stocks lose shine

Published on Sep 16, 2022 14:33

The headline equity indices traded with major losses in the mid-afternoon trade. Negative global cues dampened the investors sentiment. The Nifty traded below the 17,600 level. All the sectoral indices on the NSE were in the red with media, realty and auto stocks falling the most.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 1,059.61 points or 1.77% to 58,874.40. The Nifty 50 index lost 303.90 points or 1.70% to 17,573.50.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 2.91% while the S&P BSE Small-Cap index declined 2.41%.

The market breadth was weak. On the BSE, 800 shares rose and 2,669 shares fell. A total of 101 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose to 7.266 as compared with 7.238 at close in the previous trading session.

In the foreign exchange market, the rupee was lower against the dollar. The partially convertible rupee was hovering at 79.76, compared with its close of 79.71 during the previous trading session.

MCX Gold futures for 5 October 2022 settlement declined 0.59% to Rs 49,019.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, added 0.39% to 110.17.

In the commodities market, Brent crude for November 2022 settlement rose 1 cent or 0.01% at $90.85 a barrel.

Buzzing Index:

The Nifty Metal index fell 2.91% to 6,081.80. The index advanced 4.2% in five trading sessions.

Vedanta (down 7.78%), Welspun Corp (down 5.5%), Hindustan Copper (down 4.63%), Hindalco Industries (down 3.75%), Jindal Steel & Power (down 3.52%), National Aluminium Company (down 3.34%), Steel Authority of India (down 2.8%), Jindal Stainless (down 2.55%), Hindustan Zinc (down 2.15%) and Adani Enterprises (down 1.88%) tumbled.

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